April 24, 2024

• 

[THE INVESTOR] South Korea’s biopharmaceutical firm Alteogen said March 30 that it has signed a license deal with China’s Qilu Pharmaceutical to jointly develop and commercialize its biosimilar candidate referencing Roche’s blockbuster breast cancer treatment Herceptin.

ALT-L2, developed by Alteogen, is preparing for phase 3 clinical trials after early research in Canada in December last year suggested that the new drug may work. 

Under the agreement, the Korean firm will receive upfront payment and is eligible for milestone payments, as well as tiered royalties. Detailed information about the value of the deal has not been disclosed.

Qilu Pharmaceutical will obtain an exclusive license to develop and market the treatment in China.

ALT-L2 is one of the biosimilars lining up to compete with Herceptin, which had global sales of US$6.5 billion in 2015.

Korea’s Celltrion and US-based Amgen have signaled their intention to take a share of the Herceptin market by filing their trastuzumab candidates in the EU.

By Park Han-na (hnpark@heraldcorp.com)